In a significant move shaking the foundations of Portugal’s financial landscape, Banco de Investimentos Globais (BiG) has initiated a blockade on fiat transfers to cryptocurrency platforms. The bank’s decision, highlighted by José Maria Macedo, co-founder of Delphi Labs, stems from compliance with stringent guidelines set forth by prominent regulatory bodies including the European Central Bank
Regulation
In recent years, particularly over the last three, the intersection of cryptocurrency and traditional banking has proven to be fraught with challenges. According to a report from The Wall Street Journal, approximately 120 out of 160 hedge funds involved in cryptocurrency investments have encountered significant barriers in securing banking services. This statistic, drawn from a
As the European Union prepares to implement its Markets in Crypto-Assets Regulation (MiCA), the landscape for stablecoin issuers is undergoing significant transformation. One of the most notable developments is Tether’s recent investment in StablR, a European stablecoin issuer. This strategic move reflects a broader effort not only to align with regulatory demands but also to
In light of the European Union’s upcoming regulatory changes, the cryptocurrency landscape is bracing for a period of transformation. The Markets in Cryptoassets (MiCA) framework, which will come into effect on December 30, is engineered to enhance the oversight of crypto markets. However, the immediate implications of these regulations are causing unease, particularly regarding liquidity
In a significant move to solidify its position in the cryptocurrency landscape, Tether, the issuer of the USDT stablecoin, has enhanced its Bitcoin portfolio by acquiring 7,629 BTC, amounting to approximately $705 million. According to on-chain analysis conducted by Arkham Intelligence, this latest purchase brings Tether’s total Bitcoin holdings to an impressive 82,983 BTC, equivalent
In recent months, China has introduced a series of stringent regulations aimed at managing foreign exchange activities that carry significant risks, particularly those involving cryptocurrencies. According to the South China Morning Post, these new directives from the State Administration of Foreign Exchange (SAFE) focus on bolstering financial vigilance among banks. They enlist banks to keep
As the landscape of finance evolves, traditional institutions are increasingly looking toward the world of cryptocurrency. A noteworthy example is Morgan Stanley’s subsidiary, E-Trade, which is on the verge of introducing crypto trading services. This strategic decision is fueled by expectations of a more favorable regulatory atmosphere following the recent political transition. Analysts have taken
Recently, the Internal Revenue Service (IRS) announced a temporary reprieve regarding its rules on crypto cost-basis reporting. This move indicates the agency’s recognition of the intricate landscape of cryptocurrency taxation and underscores the necessity for regulatory frameworks to adapt in response to the dynamic nature of the digital asset market. The relief postpones a rule
The Markets in Crypto-Assets Regulation (MiCA) is a groundbreaking framework that has officially come into effect across the European Union (EU). This regulation is set to considerably reshape the landscape of digital asset oversight by offering a centralized approach to the governance of cryptocurrencies, particularly stablecoins and tokenized assets. The rationale behind MiCA is to
The emergence of cryptocurrency as a significant player in global financial markets has triggered a myriad of regulatory challenges, particularly in the United Kingdom. As the digital asset landscape continues to evolve, the country faces increasing difficulties in managing the advertising of these financial products. With fraudulent schemes proliferating across social media platforms, regulatory authorities
